National Energy Services Reunited (NASDAQ:NESR) Receives $33.57 Consensus Target Price from Brokerages

Shares of National Energy Services Reunited (NASDAQ:NESR) have received a consensus rating of “Buy” from the ten analysts that are currently covering the firm, Marketbeat reports. Nine analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $33.5714.

A number of equities analysts recently commented on the stock. Citigroup reaffirmed a “buy” rating on shares of National Energy Services Reunited in a research note on Monday, August 10th. UBS Group increased their price objective on shares of National Energy Services Reunited from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Piper Sandler raised their price objective on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. BTIG Research boosted their target price on National Energy Services Reunited from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Finally, Weiss Ratings raised National Energy Services Reunited from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th.

National Energy Services Reunited Stock Performance

National Energy Services Reunited stock opened at $33.03 on Wednesday. The company’s 50-day moving average price is $28.82 and its 200-day moving average price is $25.28. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The company has a market cap of $3.33 billion, a PE ratio of 35.90, a price-to-earnings-growth ratio of 0.31 and a beta of 0.33. National Energy Services Reunited has a twelve month low of $8.39 and a twelve month high of $36.94.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The firm had revenue of $520.75 million during the quarter, compared to the consensus estimate of $448.54 million. The company’s revenue was up 59.1% on a year-over-year basis. On average, equities research analysts forecast that National Energy Services Reunited will post 1.82 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Stefan Angeli sold 13,570 shares of National Energy Services Reunited stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $35.12, for a total value of $476,578.40. Following the completion of the sale, the chief financial officer directly owned 549,763 shares in the company, valued at $19,307,676.56. The trade was a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $26.80, for a total transaction of $51,445,119.20. Following the completion of the sale, the director owned 229,198 shares of the company’s stock, valued at approximately $6,142,506.40. This represents a 89.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 3,797,731 shares of company stock worth $100,891,128. Corporate insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NESR. Royal Bank of Canada raised its position in shares of National Energy Services Reunited by 373.8% in the 4th quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock worth $30,000 after acquiring an additional 1,499 shares in the last quarter. Legal & General Group Plc bought a new stake in National Energy Services Reunited during the second quarter valued at about $34,000. USA Financial Formulas grew its stake in National Energy Services Reunited by 63.0% in the first quarter. USA Financial Formulas now owns 2,253 shares of the company’s stock valued at $48,000 after purchasing an additional 871 shares during the last quarter. Acadian Asset Management LLC purchased a new position in National Energy Services Reunited in the first quarter valued at about $48,000. Finally, Osaic Holdings Inc. bought a new position in National Energy Services Reunited in the second quarter worth about $73,000. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

About National Energy Services Reunited

National Energy Services Reunited Corp (NASDAQ: NESR) is a publicly traded oilfield services company formed in 2021 through a business combination that brought together complementary drilling and production service providers. The company’s mission is to deliver integrated solutions across the upstream oil and gas value chain, combining regional expertise with global operational standards.

NESR’s service portfolio spans drilling, completion and production, offering products and capabilities such as cementing, coiled tubing, hydraulic fracturing, well stimulation, pumping services and intervention solutions.